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Saudi Arabia taps Aramco oil field brine in lithium battery push

Published: 19 Dec 24

Saudi Arabia is exploring projects that can produce lithium for batteries in an effort to ramp up production in the Middle Eastern oil exporter. The country, in the midst of revamping its economy to prepare for a post-oil world, is running two projects to test lithium production methods as part of a plan to develop materials for electric car batteries, Khalid Al-Mudaifer, the vice-minister for mining, said in an interview this week. The country is planning additional ventures, he said.

First Phosphate signs long-term offtake agreements

Published: 19 Dec 24

Mineral development company First Phosphate Corp has signed two long-term offtake agreements with creditworthy offtake partners with respect to its future production from operations at Saguenay-Lac-St-Jean, Quebec, Canada, thereby derisking its future projects and enhancing their prospective financing. The definitive terms of the offtake agreements will be finalised in separate agreements to be entered into between the parties. The agreements contain termination rights by the offtakers if the first delivery of product is not made by a certain date unless the parties agree to an extension, as well as other normal course termination provisions.

Dundee pleased with 'excellent' economics at Serbian gold project

Published: 19 Dec 24

TSX-listed Dundee Precious Metals will immediately proceed with a feasibility study at its Čoka Rakita gold project, in Serbia, after a prefeasibility study (PFS) demonstrated the project's "excellent economics", including a 41% internal rate of return. While undertaking the feasibility study, the company will also advance permitting activities, with the aim of starting construction in mid-2026 to support first production of concentrate in 2028.

Sibanye inks $500m streaming agreement with Franco-Nevada

Published: 19 Dec 24

Multinational metals and mining group Sibanye-Stillwater has entered into a $500-million streaming agreement with Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada Corporation. The deal grants Franco-Nevada access to gold and platinum streams from Sibanye-Stillwater’s Marikana, Kroondal and Rustenburg operations, in South Africa, in exchange for an upfront payment of $500-million.

Namibia investigates China’s Xinfeng for alleged illegal mining

Published: 19 Dec 24

Namibia’s Ministry of Mines and Energy is investigating Xinfeng Investments for alleged illegal mining in the lithium-rich Erongo region. The ministry is accusing the company, which has an exclusive prospecting license through its joint venture with Orange River Exploration and Mining, of exceeding the scope of its permit by conducting unauthorized extraction of lithium, the department said in a statement Wednesday.

Glencore in talks to sell its Philippine copper smelting unit

Published: 19 Dec 24

Glencore is in talks to sell its copper business in the Philippines as the metal’s smelting industry reels from the lowest processing fees on record. The commodities giant is discussions with at least one domestic buyer for the unit, according to people familiar with the situation who declined to be identified as the talks are private. The negotiations are ongoing, and there is no guarantee a deal will be reached.

A glut of coal in China is set to push falling prices even lower

Published: 19 Dec 24

China’s booming coal production is running well ahead of demand at the onset of winter, leading to swelling inventories and plunging prices that analysts forecast will fall further. A gauge of power-station coal prices in China has dropped around 9% since the end of September to an 18-month low of 790 yuan ($108) a ton. While demand for the fossil fuel would typically rise as the approach of winter boosted power demand, brimming stockpiles and flagging economic growth are weighing on prices.

Trump advisers urge ending environmental reviews for mines receiving US funds

Published: 19 Dec 24

Advisers to incoming US President Donald Trump are recommending he waive environmental reviews for federally funded critical minerals projects to boost domestic production of materials used in electric vehicles, electronics and weapons, according to a document seen by Reuters. Implementation would reflect a major shift in how Washington reviews proposed mines on federal lands and aims to ensure that projects receiving loans, grants or other government support are able to help the UScut dependence on China, the world's largest miner and processor of lithium, cobalt and other critical minerals.

Australian graphite firms petition US on alleged China dumping

Published: 19 Dec 24

Australia's Novonix said on Thursday it had joined a petition urging US authorities to investigate China's alleged dumping of battery-grade graphite at unfair prices, potentially harming domestic producers. The battery metals and technology company has joined the American Active Anode Material Producers (AAAMP) in filing the petition.

Canada clears Paladin's $789m Fission Uranium takeover

Published: 19 Dec 24

Australia's Paladin Energy has received the final green light it needed from Canadian authorities to buy Fission Uranium in a C$1.14-billion ($789.1-million) deal that cements is position as a major global producer, it said on Thursday. Paladin got the clearance under the Investment Canada Act on Wednesday and said the deal under which it would acquire Fission's advanced PLS project in Saskatchewan was expected to be completed by early January 2025.